PREREQUISITES FOR M 375/M 394C/ CAM 394C: INTRODUCTION TO RISK ANALYSIS

The following concepts and skills in calculus, probability, and statistics will be used in this course. If you are familiar with most of them and willing to work to learn those that you aren't familiar with , that should be good enough.
 
 

Calculus

• Differentiation and integration, including exponential and logarithmic functions

Probability

• Basic notions of probability (including calculating probabilities of unions, intersections, and complements of events and of independent events.)
• Random variables (discrete and continuous)
• Expected value (including using integration to calculate the expected value of a continuous random variable)
• Variance (including calculating the variance of a continuous random variable)
• Probability density (mass) and cumulative distribution functions
• Binomial and normal probability distributions
• Conditional probability and Bayes' Theorem

 Statistics

• Mean and median of a sample
• Histograms and scatterplots
• Sample standard deviation
• Hypothesis testing and confidence intervals for means and proportions

M408C and D should give the calculus prerequisites. Various courses and combinations of courses can provide the probability and statistics prerequisites. Examples include: M362K plus one of M316, M358K, M378K. Some of the Engineering Probability and Statistics courses may also give adequate preparation in both probability and statistics.